Equity indices end at record closing highs led by metals
Jun 11, 2021
Mumbai (Maharashtra) [India], June 11 : Key equity gauges headed northward on Friday and closed the week at record highs with metal, auto and IT stocks leading the bull run.
Analysts said the market mood was upbeat amid hopes of a quick economic revival post unlocking and expectation of large number of adult population vaccinated this year.
The BSE S&P Sensex closed 174 points or 0.33 per cent higher at 52,475 while the Nifty 50 moved up by 62 points or 0.39 per cent to 15,799.
Sectoral indices at the National Stock Exchange were mixed with Nifty metal climbing higher by 2.7 per cent and pharma by 1 per cent. But Nifty realty shed 1 per cent.
Among stocks, Tata Steel gained by 4.4 per cent to Rs 1,163.10 per share while JSW Steel closed 3.8 per cent higher at Rs 732.50 and Hindalco rose by 2 per cent to Rs 393.40.
Index heavyweight Reliance Industries advanced by 1.8 per cent to Rs 2,215.80. Among others which gained were Coal India, Power Grid Corporation, Tata Consultancy Services, Infosys and Tata Motors.
However, those in the negative zone were Axis Bank, IndusInd Bank, Bajaj Finserv, HDFC Life, SBI LIfe, Bharti Airtel and Cipla.
Meanwhile, US bond yields fell to three month lows and a broad gauge of Asian shares rose as investors saw enough one-off factors in US consumer price data to back the Federal Reserve's conviction that rising inflation will be transitory.
Japan's Nikkei gave up early gains to turn 0.03 per cent lower as tech stocks weighed. Seoul's Kospi was up 0.77 per cent as inflation fears eased and Hong Kong's Hang Seng index gained 0.36 per cent.
